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Indel Money Limited is a non-deposit taking non-banking finance company (NBFC) registered with RBI. The company deals in the gold loan sector, lending money against the pledge of household gold jewelry. The company also provides loans against property, business loans, and personal loans.
The company's gold loan customers are primarily from rural and semi-urban areas. As of August 31, 2021, the company had a network of 191 branches spread in the states of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, and Telangana, and the union territory of Puducherry. The company's web-based centralized IT platform records details of all branches and handles management of the loan and related information. The company has also launched its web applications on the Google play store & the iOS App Store. The company has developed its web-based payment portal named E-Connect which helps makes business operations more efficient.
Competitive strengths of the company
| Issue Open | September 23, 2021 - October 18, 2021 |
| Security Name | Indel Money Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) and/or Unsecured Subordinated Non-Convertible Debentures (Unsecured NCDs) |
| Issue Size (Base) | Rs 75.00 Crores |
| Issue Size (Shelf) | Rs 75.00 Crores |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE |
| Credit Rating | ‘"CRISIL BBB/Stable" by CRISIL Ratings |
| Tenor | 366 days, 18, 36, 54, 61 and 71 Months |
| Series | Series I to Series XI |
| Payment Frequency | Monthly, Annual and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
Category  |
NCD's Allocated |
|---|---|
| Institutional | 10% |
| Non-Institutional | 40% |
| Retail | 50% |
| Category |
NCD's Reserved |
|---|---|
| Institutional | 75,000 |
| Non-Institutional | 300,000 |
| Retail | 375,000 |
| Category 4 | 0 |
| Total NCD's | 750,000 |
| Series | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 | Series 9 | Series 10 | Series 11 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Tenor | Secured NCDs | Unsecured NCDs | |||||||||
| Type of Instrument | 366 days | 18 Months | 36 Months | 54 Months | 61 Months | 71 Months | |||||
| Frequency of Interest Payment | Monthly | Cumulative | Monthly | Cumulative | Monthly | Annual | Cumulative | Monthly | Monthly | Annual | Cumulative |
| Coupon Rate % Per Annum | 9.25% | NA | 10.50% | NA | 10.75% | 10.75% | NA | 11.00% | 12.00% | 12.00% | NA |
| Effective Yield (%) | 9.65% | 9.25% | 11.02% | 10.72% | 11.30% | 10.75% | 10.82% | 11.75% | 12.68% | 12.00% | 12.43% |
| Amount on Maturity | Rs.1,000.00 | Rs.1,092.75 | Rs.1,000.00 | Rs.1,165.00 | Rs.1,000.00 | Rs.1,000.00 | Rs.1,361.00 | Rs.1,000.00 | Rs.1,000.00 | Rs.1,000.00 | Rs.2,000.00 |
The issue has been rated “CRISIL BBB/Stable” by CRISIL Ratings Limited. Instruments with this rating are considered to have moderate degree of safety regarding timely servicing of financial obligations.
Indel Corporation Private Limited is the promoter of the company.
| Particulars | For the year/period ended (₹ in Crores) | ||||
|---|---|---|---|---|---|
| 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |||
| Total Assets | 479.52 | 378.17 | 263.41 | ||
| Total Revenue | 94.48 | 63.07 | 42.87 | ||
| Profit After Tax | 9.49 | 2.19 | 1.56 | ||
The company proposes to utilise the funds which are being raised through the Issue
The Indel Money NCD Sep 2021 was subscribed 1.34 times on October 18, 2021 5:00:00 AM. The NCD subscribed 1.72 times in Retail, 1.19 times in Non-Institutional, and 0.00 times in the Institutional category.
| Category ? | Subscription (times) |
|---|---|
| Retail | 1.72x |
| Non-Institutional | 1.19x |
| Institutional | 0.00x |
| Total | 1.34x |
18 2.5 Rating:  Vote Here ... |
Indel Money Limited
Office No.301,
Floor No.3, Sai Arcade N.S Road, Mulund West,
Mumbai 400 080, Maharashtra, India
Phone: +91 484 293 3988
Email: cs@indelmoney.com
Website: https://indelmoney.com/
Link Intime India Private Ltd
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai - 400083
Phone: +91-22-4918 6270
Email: indelmoney.ncd@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
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